Rebuilding Your Credit

[Mishwatson]

If date of last activity is incorrect (by a over a year) on CR do I dispute? Or ask to validate? And if validate how is that done? 

[Shogun]

What is the DOFD of the account?  The DOLA really doesn't hold much relevance.  Is it from an OC or a CA?

[rckstrscott]

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Mishwatson wrote:

If date of last activity is incorrect (by a over a year) on CR do I dispute? Or ask to validate? And if validate how is that done? 

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What type of account?

DOLA could be a large gambit of things.. But as Shogun said, if its in regards to a collection account, the DOLA is essentially worthless.. You need the DOFD

-scott

[Mishwatson]

this  is CA and they gave DOLA and DOFD as same date, but I know Dofd and DOLA be at least a year before, 

[Jutz]

Was there ever a promise of payment/payment plan discussed and/or agreed to arond the time they are reporting?

[Mishwatson]

No, no payment plans ever, i i have never spoken to anyone regarding this account until 2 days ago and I didn't acknowledge debt only told them no contact via phone. This debt is from 07, cr reads 09. What should I do toget correct date on Cr so this ages off correctly? Any advise in general?  CA is Asset Oc is beneficial 

[rckstrscott]

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Mishwatson wrote:

No, no payment plans ever, i i have never spoken to anyone regarding this account until 2 days ago and I didn't acknowledge debt only told them no contact via phone. This debt is from 07, cr reads 09. What should I do toget correct date on Cr so this ages off correctly? Any advise in general?  CA is Asset Oc is beneficial 

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I grabbed this from an old message from Robert, but it feel it is relevant in this situation.

A direct dispute is, in my opinion, the best way to go, as it requires them to verify directly to you that they have complied with their reporting requirements. I wouldn't dispute with the CRA

The controlling statute for determining compliance with reporting of a DOFD is FCRA 623(a)(5), as follows:

1. First, they were required to have reported the DOFD on the OC account to the CRA within 90-days of reporting their collection.  FCRA 623(a)(5)(A).  So they cannot shed responsibility for whatever date is reported.
2. Second, IF the OC was also reporting to the CRA, the OC had the same 90-day requirement for reporting of the DOFD.  Again, section 623(a)(5)(A).  In that situation, whatever the OC reported trumps all else, as section 623(a)(5)(A)(i) requires the debt collector to report that same date.
3. Third, IF the OC did not report a DOFD to the CRA, the debt collector must then attempt to obtain the DOFD from the OC or some other reliable source.  If they obtain a DOFD, they must report that date.  FCRA 623(a)(5)(A)(ii),
4. Fourth, the “catch-all” provision.  IF the OC did not report a DOFD to the CRA, and the debt collector, after following step 3, was unable to get a DOFD from the OC, they are then permitted to make their best estimate of the DOFD, but in no case may they report a DOFD that was later than the date the account was placed for collection.

Those are the steps to determine their compliance with reporting of a DOFD.  Step 4 usually is the killer, if they reported a DOFD that is later than collection referral.

As a preliminary step to nailing down an improper DOFD, you must of course know what they actually reported.  You can rely on your CR, or you get that information directly from the CRA by filing an information request under section 609(a)(1).  Having come from the CRA, it is legally solid as evidence of what they actually reported.

-scott

[Mishwatson]

So I should send letter to the disputing this account and reference  609(a)(1? 

[rckstrscott]

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Mishwatson wrote:

So I should send letter to the disputing this account and reference  609(a)(1? 

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The controlling statute for determining compliance with reporting of a DOFD is FCRA 623(a)(5).

You should sent the dispute to the collection agency, not the CRA.

You can query the CRA using 609(a)(1) to get the reported DOFD.

-scott

[RobertEG]

This is one of the rare situations where I would advise disputing through the CRA as opposed to using the direct dispute process, unless you have first developed your own clear, factual evidence of misreporting of DOFD to present directly to the furnisher.

I would suggest first gathering, via the FCRA 609(a)(1) process, clear evidence of what they actually reported as the DOFD before asserting inaccuracy.

However, if you wish to dispute at this point, only the CRA has in their records what was actually reported.  If you send a direct dispute to the debt collector, you are most likely just offering speculation on what was reported, and the CRA is not a party to the dispute. 

If you dispute through the CRA, they become the party with authority to decide the dispute.  They do that by not only reviewing any verification provided to them by the furnisher, but also by ability to review other facts.  The furnisher reporting is a fact that is of record in their files.  They can determine, based on section 623(a)(5), if it was in compliance, and using their reinvestigation rights, reach their own decision.

I would use caution in disputing, trying to gather all factual evidence before triggering a dispute.  DOFD has one and only one relevance to credit reporting.... it is used by the CRA to calculate the exclusion date of any charge-off or collection.  Thus, its substantive impact does not kick in until 7 years plus 180 days from the date of the DOFD.

It appears that date is still around at least a year and a half in the future, so resolution of the matter has time.